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the government struggled to fill that hole. the lesson here is that tax changes create huge spikes and crashes in revenue. now if governments understood this, we could plan for it but so far, brian, there is no evidence that governments, either state or federal, have learned this lesson. >> why is this so hard for us to figure out? you just laid it out. we've been here before. >> we've been here before. we've been here every decade we get to this point where we have this sudden artificial explosion in revenues whether from the market or tax havens. when governments get money they like to spend it. they like to pretend it is the new normal and they can budget along those lines but the temptation is to spend that money and budget around it. then suddenly we have 2013. >> remember world war i? >> i do remember. that was a rough time. >> they said there will never be another war like that? what happened, like 22 years later? we are doomed to repeat the same mistakes. >> we'll have this interview. we can go back next year and say we
the government struggled to fill that hole. the lesson here is that tax changes create huge spikes and crashes in revenue. now if governments understood this, we could plan for it but so far, brian, there is no evidence that governments, either state or federal, have learned this lesson. >> why is this so hard for us to figure out? you just laid it out. we've been here before. >> we've been here before. we've been here every decade we get to this point where we have this sudden...
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Dec 6, 2012
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looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the structure of italian politics makes the country ungovernable. brian, there's 12 political parties in the chamber of deputies. that's the lower house. you get coalitions together and they routinely topple the governments. this has been a problem since world war ii. they've got to gig ofigure out better way to govern the country. >>> we've got huge volume today on apple. it will do 40 million shares, probably twice normal. it went positive earlier in the day on that very good news about doing some production of the mac in the u.s. >> they've got too many and maybe we have too few. somewhere in the middle is the answer. bob pisani, thank you. >>> your top stock story today is -- what else -- apple. it is making a small comeback after hitting a nine-month low earlier today but it's been a run to forget for one of the most owned stocks in the world. it's down 7% over the past week. here's your headline of the
looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the structure of italian politics makes the country ungovernable. brian, there's 12 political parties in the chamber of deputies. that's the lower house. you get coalitions together and they routinely topple the governments. this has been a problem since world war ii. they've got to gig ofigure out better way to govern the country. >>> we've got huge...
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Dec 6, 2012
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residential investment and government infrastructure, which is way down from historical levels, and business structures investment, that's important, but the locomotive that pulls our economy is investment in equipment and software. whether it's for an oil cater in the basis or a high-tech start-up buying servers and routers and things of that nature. it's our reduced level of capital investment that's produced our low gdp growth rates and our high unemployment. and high tax rates at the corporate level worldwide are directly related to high unemployment levels. you've got to stimulate investment in the united states and a lower corporate tax rate and a so-called territorial system where you don't tax profits made, say, from selling disposable diapers in china to chinese citizens. has to pay a tax to come back in the united states. >> let me get your take, fred. everything you say makes a lot of sense. yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take
residential investment and government infrastructure, which is way down from historical levels, and business structures investment, that's important, but the locomotive that pulls our economy is investment in equipment and software. whether it's for an oil cater in the basis or a high-tech start-up buying servers and routers and things of that nature. it's our reduced level of capital investment that's produced our low gdp growth rates and our high unemployment. and high tax rates at the...
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Dec 4, 2012
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you have more government. good luck with all of that. >> and, of course, norfolk will be happy when the panama canal is deepened and you will have more ships going that way. >>> none of it matters. 17 more days until the world comes to an end according to the miens and i'm sure california will be destroyed first. i figure this could be a good thing. first go ahead and raise my taxes. you can't collect them until april 15 and i will be gone. i'll stop waiting for microsoft shares to hit $40. it is never going to happen and we can stop worrying about it and the markets will avoid crashing with the inevitable election of president kardashian. >> the policies coming out of that administration may be better than the ones right now. >> that was hash tag smooth on that political rant. >> personal hygiene. lindsay lohan bounce. >> you don't have to worry about personal hygiene. don't shower that morning. what is the difference. >> die smelly? >> you guys have a loincloth around the house? >> i hope guy does practice p
you have more government. good luck with all of that. >> and, of course, norfolk will be happy when the panama canal is deepened and you will have more ships going that way. >>> none of it matters. 17 more days until the world comes to an end according to the miens and i'm sure california will be destroyed first. i figure this could be a good thing. first go ahead and raise my taxes. you can't collect them until april 15 and i will be gone. i'll stop waiting for microsoft shares...
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>> apparently both governments say they're happy with this decision. but -- >> after the last time when they didn't bother to check with the german chancellor and assured us that it was all fine. i just wonder if that's done it properly this time. stefane, thanks for that. off to japan thousanow where ni has had a set back. the story from tokyo. >> nissan says it was recall half a million compact calls starting tomorrow. it covers the c plus c produced between february 2002 and february 2009. rear lights may not work when reversing and braking due to wiring problems and they will offer free repairs. the problem hasn't caused any accidents or injuries so far and only applies to cars sold it in japan. in china, auto sales are slowly recovering and this is good it news for nissan as the chinese market accounted for 26% of its global sales in fiscal 2011. more than its japanese peers. nissan sales in most of were down 30% from the previous year, but a slight improvement from october when they sold more than 40% due to political tensions between china and j
>> apparently both governments say they're happy with this decision. but -- >> after the last time when they didn't bother to check with the german chancellor and assured us that it was all fine. i just wonder if that's done it properly this time. stefane, thanks for that. off to japan thousanow where ni has had a set back. the story from tokyo. >> nissan says it was recall half a million compact calls starting tomorrow. it covers the c plus c produced between february 2002...
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look, they've got to supervise all banks that receive government assistance by january 2nd. what else are they supposed to be doing by january 2nd that they might not be doing? >> they've already softened the time horizon because originally everything was supposed to be per end of year, meaning by january 2nd, everything would be away we go. that would be the banking supervisi supervision. none has happened yesterday. speaking in an unprecedented move, i don't know whether that's the new eu as it were, we do have public deliberations of the eu finance ministers and indeed victor was speaking before which means we press peeps can watch it in the press room and can actually listen to what is being debated. schaeuble speaking a little earlier. and so at the moment, the argument is going going back and fro. the big question, two big questions, who will supers vice all the banks. the ecb is saying it should be lying within the ecb and everyone else may join. ha-ha. that was the original plan. they said the ecb should be the single supervisor. and everyone else who wants to join i
look, they've got to supervise all banks that receive government assistance by january 2nd. what else are they supposed to be doing by january 2nd that they might not be doing? >> they've already softened the time horizon because originally everything was supposed to be per end of year, meaning by january 2nd, everything would be away we go. that would be the banking supervisi supervision. none has happened yesterday. speaking in an unprecedented move, i don't know whether that's the new...
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Dec 3, 2012
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>> it depends on how much pressure the government applies and what more the government wants out of the boj, despite expectations of aggressive easing or bolder steps by the boj, progress might be slow because despite the opposition leader's very aggressive talk about the need it for monetary easing, politicians understand that doing unorthodox steps might backfire given japan has a very huge step tile which exposed them to a risk that japan's bond yields might spike if they force the boj to buy bonds too much. so, you know, there is a chance, pretty good chance, the boj will do something bolder, but it might take time. >> all right. thanks very much indeed for that. chief correspondent for policy at reuters. meanwhile from japan to india. also reporting improving manufacturing activity last month. the details from mumbai. good to see you. what are the details? >> 80 basis point improvement in the index itself. encouraging picture is that it's being led by new order, particularly exporter orders. so that was the encouraging bit. but the problem factor being both output and input have ag
>> it depends on how much pressure the government applies and what more the government wants out of the boj, despite expectations of aggressive easing or bolder steps by the boj, progress might be slow because despite the opposition leader's very aggressive talk about the need it for monetary easing, politicians understand that doing unorthodox steps might backfire given japan has a very huge step tile which exposed them to a risk that japan's bond yields might spike if they force the boj...
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but that's not the way government works. they get briefed on economic stuff one minute and they run into a meeting and get briefed on the mating habits of a spotted owl or some other cause that they'll be asked to vote on later in the day, too. it's just the way our government works. >> whatever happens, we'll probably get some tax changes here, which investors are going to matter. which ones are the standout and how much time have you got to deal with it? >> well, there are a lot of them, the standouts. the biggest ones are the dividend and capital gains. companies are borrowing money to jam money out the door in special dividends to beat the deadline. so anyone that says the tax policy doesn't matter as it relates to economic conditions is really out of their mind. it really does make a difference. so i think when you look at dividends, capital gains, i think individuals for the last minute is when so many things get done, the article that i wrote for cnbc.com talks about the power of the last minute. if you've been procra
but that's not the way government works. they get briefed on economic stuff one minute and they run into a meeting and get briefed on the mating habits of a spotted owl or some other cause that they'll be asked to vote on later in the day, too. it's just the way our government works. >> whatever happens, we'll probably get some tax changes here, which investors are going to matter. which ones are the standout and how much time have you got to deal with it? >> well, there are a lot...
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the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you know, this i found, as a matter of fact, the engine in here is made in america. and not only are the engines in here made in america, but engines are made in america and are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states, next year, we will do one of our existing mac lines in the united states. >> you can see the entire interview with tim cook tonight on rock center, that's 10:00 eastern time on your local nbc station, but for now investors are watching the market. apple shares 5.31, which is close to the main lows. this is close t
the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you...
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we want to -- the government solves problems in texas. we want to do something in texas, it happens two or three times faster in texas than it does in, say, the state of california. >> mike, thank you very much. >> thank you. >> great seeing you guys this morning. >>> let's check the futures, traders focus on jobs this week as we get ready for the big employment report on friday. >>> coming up, becky's exclusive interview with brian moynihan. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? melons!!! oh yeah!! well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you co
we want to -- the government solves problems in texas. we want to do something in texas, it happens two or three times faster in texas than it does in, say, the state of california. >> mike, thank you very much. >> thank you. >> great seeing you guys this morning. >>> let's check the futures, traders focus on jobs this week as we get ready for the big employment report on friday. >>> coming up, becky's exclusive interview with brian moynihan. [ penélope ] i...
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the government doesn't help. you can own pieces of silver and pieces of gold. >> do you have some on you right now? >> no, i don't. i have it buried in the backyard. i have it in a vault. never bury your gold in the backyard. >> i'll remember that. thank you for that advice. >> first we have to get backyard. >> el paso electric company celebrating tenth anniversary. yit celebrating its 100th anniversary. want to go straight to mary thompson with breaking news out of fdic. >> this is the fdic's third quarter breaking profile looking at how banks performed in the third quarter. profits for insured institutions rising to best levels in six years in the third quarter. higher profits driven by higher revenue and lower loan loss provisions. the company's third quarter operating revenue increased by 3% in the last quarter and that's a positive sign. it was the first time for the world's largest revenue that banks posted in three years. loan balances increased. it was slightly less than in the second quarter. we should a
the government doesn't help. you can own pieces of silver and pieces of gold. >> do you have some on you right now? >> no, i don't. i have it buried in the backyard. i have it in a vault. never bury your gold in the backyard. >> i'll remember that. thank you for that advice. >> first we have to get backyard. >> el paso electric company celebrating tenth anniversary. yit celebrating its 100th anniversary. want to go straight to mary thompson with breaking news out...